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ZURICH - Swiss banking giant UBS said on Wednesday it will post a full-year loss of 4.4 billion Swiss francs (S$5 billion) in 2007 due to its exposure to the US subprime crisis.
In the fourth quarter alone, UBS posted a net loss of 12.5 billion Swiss francs, the bank said in a statement.
Subprime losses amount to around US$12 billion, with the loss of a further US$2 billion attributable to other aspects of the US housing market, the bank said.
The bank had already said a full-year loss was likely after dismal third-quarter results.
It will announce its 2007 results in full on Feb 14 as originally planned. -- AFP
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